Grand Power Logistics Group Inc.
TSX VENTURE : GPW

Grand Power Logistics Group Inc.

October 24, 2006 09:00 ET

Grand Power Receives Business License to Operate Branch Office in Guangzhou, China

CALGARY, ALBERTA AND HONG KONG--(CCNMatthews - Oct. 24, 2006) - Grand Power Logistics Group Inc. ("Grand Power") (TSX VENTURE:GPW) is pleased to announce that, further to its news release on July 11, 2006, Grand Power Express Forwarders Co. Ltd. of Shanghai ("GP Shanghai"), one of the Grand Power Logistics Group of Companies, has received a Business License from the Bureau of Foreign Trade and Economic Cooperation to begin operations in Guangzhou, in the People's Republic of China ("China"). Grand Power intends to commence operations in Guangzhou on November 1, 2006.

With the Guangzhou license, GP Shanghai will now be able to directly offer its customers in southern China access to the air freight and other value-added logistics services that the Company provides through its established network of airline partners and other key relationships in the region.

Ricky Chiu, President and CEO of Grand Power Logistics Group said "We have achieved another goal in our growth strategy. We will now have a Branch Office in one of the world's most modern logistics hubs for air, sea, road, and rail transport. A significant percentage of China's import and export cargo transits through Guangzhou, and we are now there. Since we commenced operations in Shanghai earlier this year, we have been appointed as an agent with three airlines and this branch is now generating positive net income from its operations. We expect this trend to continue."

Chiu adds, "We will continue to evaluate opportunities that could further increase our market share, revenue and margins, to add value for our shareholders. We are also investigating acquisition or Branch Office opportunities in North America to expand our trans-Pacific business, not only in the air cargo sector but also in the sea cargo business, which is an important element of our growth strategy."

About Grand Power Logistics Group Inc.

Grand Power Logistics Group Inc operates principally through its wholly owned subsidiary, Grand Power Express International Limited (GP Express) and GP Express' wholly-owned subsidiaries in Macau and China. GP Express commenced business in Hong Kong in March 2002 primarily as an airfreight forwarding service, but also provides sea freight services, customs brokerage, logistics, warehousing and distribution, as well as other value added services for clients. In May 2006, the company commenced business operations in China through a subsidiary office in Shanghai. The Grand Power Group is uniquely positioned in Asia, with its operating headquarters in Hong Kong and subsidiaries or supporting offices in Macau, Shanghai, Guangzhou, Taipei and Bangkok.

Forward-looking statements: Statements included in this press release that are not historical facts may be considered "forward looking statements". All estimates and statements that describe the Company's objectives, goals or future plans are forward looking statements. Forward-looking statements involve inherent risks and uncertainties where actual results could differ materially from those currently anticipated.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information